Ensure your Parent’s Good Health! Choose Parents Health Insurance

Our parents work hard to give us a comfortable life and as they grow old, it’s our responsibility to ensure they stay in good health. In old age, parents will start facing medical issues and in order to take proper care of their health, you should opt for health insurance policy that offers complete coverage against their healthcare expenses.

Healthcare expenses have risen sharply in the past few years and the medical inflation rate is around 10% annually. Buying a health cover for parents provide the required financial assistance against the cost incurred in the event of hospitalization.

Health Insurance Plan for parents helps to cater their health-related needs. You will have the option to buy an individual health plan or choose an umbrella plan that covers both your parents to take care of their healthcare expenses. Getting a health cover also offers you tax benefits under section 80D of the Income Tax Act, 1961.

Health Insurance for Parents Benefits You

1. Complete Coverage: Your parents in the old age require frequent and urgent medical attention and you need to buy a specialized health cover to cater their health care needs. Buying a health plan for parents cover the expenses incurred in case of in-patient hospitalization, pre & post hospitalization, domiciliary hospitalization, organ donor, etc.
2. Rising Healthcare Costs: As per recent estimates, the medical cost is rising at an alarming rate of around 10% on an annual basis that makes extremely tough for anyone to afford the medical treatment. When your parents become ill and require medical attention, you will have to pay hefty bills from your pocket. Upon choosing a health plan for parents, it covers the expenses incurred in case of medical emergencies.
3. Prone to Illnesses: In old age, your parents are more susceptible to major illnesses and the treatment expenses of these illnesses are huge. Health insurance plan for parents covers the medical expenses and provide financial back up in case of medical requirements.
4. Financial Stability: In case of any medical treatment/ procedure, you will have to pay hefty medical bills from your pocket that may disturb the financial stability of the family. By buying health plan for parents, you don’t need to worry about medical cost as it’s covered under the plan.

Coverage Available

1. Hospitalization Cover: Expenses incurred in case of in-patient hospitalization are covered. It covers room rent charges, doctor fees, nursing fees, cost of medicine and drugs, etc.
2. Cover for Pre-existing Illnesses: Parents health insurance offers cover for pre-existing medical illnesses. You need to check the illnesses covered under the plan you want to opt for.
3. Pre & Post Hospitalization: Medical expenses incurred before and after hospitalization are covered. The number of days will vary across insurers.
4. Daycare Procedures: Day care expenses which incurred from use of special equipment or procedures like chemotherapy, dialysis, etc.
5. Domiciliary Treatment: Expenses related to the medical treatment or procedure done at home are covered under this health plan.
6. Organ Donor: In the event of organ transplant, expenses related to the treatment of the organ donor are also covered.
7. No Claim Bonus: Under health insurance plan for parents, you will receive a no claim bonus which is a benefit accrued in the event of claim-free policy year. The insurer offers you this benefit by increasing the health cover or reduce premium by the bonus amount.

Concluding Words:

When it comes to catering health-related needs of your loving parents, you need to get a health plan for parents. While buying a health plan, you firstly need to assess your parents’ health needs and then choose the coverage that will take care of their medical bills. You must also check the number of illnesses covered prior to buying a health cover for parents.